Munger Mode rating: 4 out of 5 — Buy. Our own rating from the research report below, on business quality first: moat durability and management, with price separating the top three.
A wonderful business at a fair price. The market has repriced Netflix from euphoria to doubt in about eight months — the shares sit 46% below their high after a soft third-quarter outlook — and in doing so has handed long-term owners a reasonable entry into the only genuinely profitable franchise in streaming. We do not see a wide margin of safety at $69, but we see a durable business, superb management, and a price that no longer embeds heroic assumptions. We have always said we like businesses we can explain to our grandchildren in a paragraph. Here is Netflix in one: roughly 300 million households around the world pay Netflix a monthly fee — and advertisers increasingly pay too — in exchange for an enormous, constantly refreshed library of television and film delivered over the internet.
Recent filings analysed: 8-K (2026-07-30), 8-K (2026-07-22), FWP (2026-07-20), 10-Q (2026-07-17).
Stock screener · Superinvestor 13F holdings · Analyst sentiment · Market valuation